SEMDY: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
SEMDY
Largest movements
- Receivables within one year -€25,066
down €25,066 (-72.6%), from €34,511 to €9,445
of which Trade receivables: -€25,090
- Tangible fixed assets -€9,254
down €9,254 (-25.6%), from €36,155 to €26,901
of which Furniture and vehicles: -€8,907
- Cash +€9,085
up €9,085 (+1205.1%), from €754 to €9,839
mainly Receivables within one year (+€25,066) and Short-term financial debts (+€24,000)
- Stocks and contracts +€6,265
up €6,265 (+93.9%), from €6,675 to €12,940
of which Stocks: +€3,955
- Deferred charges and accrued income -€3,336
down €3,336 (-30.5%), from €10,935 to €7,599
- Reserves -€24,887
no longer reported in 2025 (was €24,887)
- Short-term financial debts +€24,000
new in 2025: €24,000
- Profit (loss) carried forward -€12,175
new in 2025: -€12,175
- Current portion of long-term debt +€7,811
up €7,811 (+63.9%), from €12,220 to €20,030
- Tax, wage and social debts -€7,723
down €7,723 (-89.4%), from €8,637 to €914
- Gross operating margin -€39,445
down €39,445, from €31,400 to -€8,045
- Financial charges -€5,802
down €5,802 (-50.0%), from €11,594 to €5,793
- Depreciation +€4,615
up €4,615 (+27.4%), from €16,862 to €21,477
- Taxes -€490
down €490 (-75.0%), from €654 to €164
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €89,030 | €66,724 | -€22,306 | -25.1% |
| Fixed assets | 21/28 | €36,155 | €26,901 | -€9,254 | -25.6% |
| Tangible fixed assets | 22/27 | €36,155 | €26,901 | -€9,254 | -25.6% |
| Plant, machinery and equipment | 23 | €1,146 | €799 | -€347 | -30.3% |
| Furniture and vehicles | 24 | €35,009 | €26,102 | -€8,907 | -25.4% |
| Current assets | 29/58 | €52,875 | €39,823 | -€13,052 | -24.7% |
| Stocks and contracts in progress | 3 | €6,675 | €12,940 | +€6,265 | +93.9% |
| Stocks | 30/36 | €6,675 | €10,629 | +€3,955 | +59.2% |
| Contracts in progress | 37 | - | €2,311 | +€2,311 | |
| Amounts receivable within one year | 40/41 | €34,511 | €9,445 | -€25,066 | -72.6% |
| Trade receivables | 40 | €28,905 | €3,815 | -€25,090 | -86.8% |
| Other amounts receivable | 41 | €5,606 | €5,629 | +€24 | +0.4% |
| Cash at bank and in hand | 54/58 | €754 | €9,839 | +€9,085 | +1205.1% |
| Deferred charges and accrued income | 490/1 | €10,935 | €7,599 | -€3,336 | -30.5% |
| Total equity and liabilities | 10/49 | €89,030 | €66,724 | -€22,306 | -25.1% |
| Equity | 10/15 | €27,887 | -€9,175 | -€37,063 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €24,887 | - | -€24,887 | |
| Distributable reserves | 133 | €24,887 | - | -€24,887 | |
| Profit (loss) carried forward | 14 | - | -€12,175 | -€12,175 | |
| Amounts payable | 17/49 | €61,143 | €75,900 | +€14,757 | +24.1% |
| Amounts payable after more than one year | 17 | €26,972 | €30,427 | +€3,455 | +12.8% |
| Financial debts | 170/4 | €26,972 | €30,427 | +€3,455 | +12.8% |
| Amounts payable within one year | 42/48 | €34,170 | €45,472 | +€11,302 | +33.1% |
| Current portion of amounts payable after more than one year | 42 | €12,220 | €20,030 | +€7,811 | +63.9% |
| Financial debts | 43 | - | €24,000 | +€24,000 | |
| Credit institutions | 430/8 | - | €24,000 | +€24,000 | |
| Trade debts | 44 | €6,433 | €528 | -€5,905 | -91.8% |
| Suppliers | 440/4 | €6,433 | €528 | -€5,905 | -91.8% |
| Taxes, remuneration and social security | 45 | €8,637 | €914 | -€7,723 | -89.4% |
| Taxes | 450/3 | €8,637 | €914 | -€7,723 | -89.4% |
| Other amounts payable | 47/48 | €6,880 | - | -€6,880 | |
| Non-recurring operating income | 76A | - | €3,190 | +€3,190 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,862 | €21,477 | +€4,615 | +27.4% |
| Other operating charges | 640/8 | €1,773 | €1,620 | -€153 | -8.6% |
| Gross operating margin | 9900 | €31,400 | -€8,045 | -€39,445 | |
| Operating profit (loss) | 9901 | €12,765 | -€31,142 | -€43,907 | |
| Financial income | 75/76B | €2 | €35 | +€33 | +1519.8% |
| Recurring financial income | 75 | €2 | €35 | +€33 | +1519.8% |
| Financial charges | 65/66B | €11,594 | €5,793 | -€5,802 | -50.0% |
| Recurring financial charges | 65 | €11,594 | €5,793 | -€5,802 | -50.0% |
| Profit (loss) for the period before taxes | 9903 | €1,173 | -€36,899 | -€38,072 | |
| Income taxes | 67/77 | €654 | €164 | -€490 | -75.0% |
| Profit (loss) for the period | 9904 | €519 | -€37,063 | -€37,582 | |
| Profit (loss) for the period to be appropriated | 9905 | €519 | -€37,063 | -€37,582 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.